Yidu Tech (02158.HK): Authorize the trustee to purchase shares from the market under the share award plan

Gelonghui, March 26丨Yidu Tech (02158.HK) announced that it has authorized the appointment of an independent professional trustee to manage the post-IPO share award plan to purchase the company’s shares on the market at the current market price according to the rules of the post-IPO share award plan.

The board believes that maintaining a reserve of shares purchased at competitive prices will enhance the group’s flexibility in constructing an effective compensation and remuneration package, thereby strengthening its ability to attract and retain the talents necessary for the group’s ongoing growth and development. Share purchases will be made based on the company’s needs and in reference to current market conditions. Any shares purchased by the trustee will be held by the trustee for the purposes specified in the trust deed that establishes the post-IPO share award plan agreed upon between the company and the trustee and in accordance with the plan rules. Any funds paid (if any) will be allocated from the company’s internal financial resources and will not affect the company’s operations.

The board believes that the share purchases demonstrate the company’s confidence in its business outlook and prospects, and will bring long-term benefits to the company and enhance shareholder value. The board further believes that the company has sufficient financial resources to implement the share purchases while maintaining a robust financial position.